In recent years, midstream U.S. crude oil infrastructure has adapted to increased onshore oil production, leading to some changes in crude oil and petroleum product movement around the country. To help users understand and keep up with changes in petroleum infrastructure, the U.S. Energy Information Administration has added new petroleum layers to the maps on its State Energy Profiles and Energy Disruption pages.

A coalition of groups dedicated to keeping New York state’s 5-year-old ban on fracking in place is demanding that the Department of Environmental Conservation withdraw its proposed regulations for new liquefied natural gas facilities, citing safety concerns and other issues.

WASHINGTON, October 29, 2013 – Fifty-six percent of voters nationwide oppose changes to the tax code that could decrease investment in energy production and reduce energy development in the United States, according to a new poll conducted by Harris Interactive for API’s “What America is Thinking on Energy Issues” series.

“An energy and manufacturing revolution is taking place in America,” said API Director of Tax and Accounting Policy Stephen Comstock. “Well-crafted tax reform could complement America’s rise as an energy superpower. But badly done, tax reform could significantly harm America’s energy production, cost jobs and revenue to the government, and make us less energy secure.”

Fifty-four percent of Democrats, 63 percent of Republicans, and 56 percent of Independents said they would oppose changes in the tax code that could decrease investment in energy production and reduce energy development in the United States.

An overwhelming majority of voters (81 percent) agreed that politicians in Washington should solve the country's budget issues without raising energy taxes.

“Whenever the debate in Washington turns to spending and debt, a few politicians repeatedly haul out proposals for punitive tax increases on oil and natural gas,” said Comstock. “This is not a popular idea.”

Ninety-one percent of voters said developing more domestic energy here in the U.S. is important, a sentiment reflected by API’s 15 million strong and growing network of grassroots activists. Majorities also felt that raising taxes on oil and natural gas companies could drive up energy costs for consumers (69 percent) and negatively impact the country’s job market and hurt the economy (56 percent).

API is a national trade association that represents all segments of America’s technology-driven oil and natural gas industry. Its more than 550 members – including large integrated companies, exploration and production, refining, marketing, pipeline, and marine businesses, and service and supply firms – provide most of the nation’s energy. The industry also supports 9.8 million U.S. jobs and 8 percent of the U.S. economy, delivers $85 million a day in revenue to our government, and, since 2000, has invested over $2 trillion in U.S. capital projects to advance all forms of energy, including alternatives.

A Portage County drilling company has sued two Akron attorneys and two Akron law firms for defamation, tortious interference and conspiracy.

Named in the lawsuit filed by Beck Energy Corp. of Ravenna were attorneys Richard V. Zurz Jr. and Mark A. Ropchock and their firm, Slater and Zurz LLP. Also named defendants were Roetzel and Andress LPA.

DALLAS, October 28, 2013 – The Crosstex Energy companies, Crosstex Energy, L.P. (NASDAQ: XTEX) (the Partnership) and Crosstex Energy, Inc. (NASDAQ: XTXI) (the Corporation), today announced the Partnership will expand its natural gas gathering and processing system in the Permian Basin by constructing a new natural gas processing complex and rich gas gathering pipeline system. The initial investment of approximately $140 million will include treating, processing and gas takeaway solutions for regional producers. The project, which will be fully owned by the Partnership, is supported by long-term, fee-based contracts.

Our Call We expect investors will increasingly support this current step regarding Consol Energy's emergence into an energy growth vehicle. Generating a higher than expected value for a portion of its capitalized, non-core thermal coal assets while de-risking its balance sheet and providing accretive growth capital for its shale holdings should allow valuation to improve as coal and natural gas markets normalize. We would add to positions.

• Value for Non-Growth Assets. Management appeared to facilitate a very well-matched sale for its well-capitalized thermal mines while retaining very strong, flexible, and higher value operations. Securing cash, future royalties from select mines, and relieving itself of legacy obligations provided a well-structured transaction for stakeholders, in our view.

• Hidden Value Emerges. Management has consistently communicated its desires for the market to apply more appropriate values its coal/related assets and to provide more visibility to the growth potential of Consol's Marcellus and Utica Shale holdings. During the past eighteen months, Consol's equity valuation has well outperformed its coal, but underperformed its shale peers. While not the best of times to sell coal assets, the valuation applied by the purchaser, privately owned Murray Energy, serves to validate a portion of management's desire.

• Execution the Key. As management continues to work on one or two other asset monetization transactions to further recapitalize its company during the current quarter, we expect the market will place increased focus on its reserve positioning and growth as well as drilling, infrastructure, and gas production growth plans relative to its Eastern shale-oriented peers

• Lots of Moving Parts; However, More Value Remains. Our initial analysis of the transaction, balance sheet, and EBITDA adjustments supports shares that remain underpriced at current levels. We believe that as additional, but smaller sized, non-core asset sales emerge, thermal and metallurgical coal market prices normalize and Consol's shale profile achieves targeted growth, the valuation gap should continue to narrow during the next 12-18 months.

Teresa Heinz Kerry was interviewed in Sunday's Pittsburgh Post-Gazette on upheavals in the powerful Pittsburgh foundation and its role in establishing a new center on shale drilling that has come under fire.

The environmental group WildEarth Guardians has asked the U.S. Bureau of Land Management to postpone approving and then impose restrictions on oil drilling in designated sage grouse habitat east of Douglas, Wyo.

PITTSBURGH
,
Oct. 28, 2013
/PRNewswire/ --
CONSOL Energy Inc.
(NYSE: CNX) has taken a transformative step to advance its E&P growth strategy. The company has entered into an agreement to sell its
Consolidation Coal Company
(CCC) subsidiary, which contains all five of its longwall coal mines in
West Virginia
, to a subsidiary of
Murray Energy Corporation
(
Murray Energy
) for
$3.5 billion
in value.

TULSA, Okla. & HOUSTON--(BUSINESS WIRE)--Bluegrass Pipeline LLC, a joint venture between Williams (NYSE:WMB) and Boardwalk Pipeline Partners, LP (NYSE: BWP) (Boardwalk), today announced that it will be commencing a binding Open Season to determine industry commitments to natural gas liquids (NGLs) transportation capacity from the Marcellus and Utica shale plays to the petrochemical and export complex on the U.S. Gulf Coast. The Open Season will begin on Oct. 29, 2013 at 8 a.m. CDT and conclude on Dec. 16, 2013 at 5 p.m. CST.

After a dearth of activity in the early stages of the bull market, corporations now appear dead set on unlocking hidden value via spin-offs. Case in point: Two dozen deals have already been completed this year. And at least another two dozen are officially in the works, including American Express & Co.’s (AXP) spin-off of its business travel division.

A press released received today from the U.S. Environmental Protection Agency:

Carbon pollution from power plants declines 10 percent from 2010 due to growing use of natural gas

WASHINGTON – Today, the U.S. Environmental Protection Agency (EPA) released its third year of greenhouse gas data detailing carbon pollution emissions and trends broken down by industrial sector, greenhouse gas, geographic region, and individual facility. The data, required to be collected annually by Congress, highlight a decrease in greenhouse gas emissions as more utilities switch to cleaner burning natural gas.

“EPA is supporting President Obama’s Climate Action Plan by providing the high-quality data necessary to help guide common-sense solutions to address climate change,” said EPA Administrator Gina McCarthy. “Putting this data in the hands of the public increases transparency, supports accountability, and unlocks innovation.”

Greenhouse gases emitted through human activities such as transportation and power generation are the primary driver of recent climate change, which threatens the health and welfare of Americans—by increasing the likelihood of hotter, longer heat waves, fueling more frequent and intense extreme weather events, and worsening ground level ozone, an air pollutant that causes respiratory and cardiovascular health problems.

EPA’s Greenhouse Gas Reporting Program collects annual greenhouse gas information from over 8,000 facilities in the largest emitting industries, including power plants, oil and gas production and refining, iron and steel mills, and landfills. In addition, the program is receiving data on the increasing production and consumption of hydrofluorocarbons (HFCs) predominantly used in refrigeration and air-conditioning. The Greenhouse Gas Reporting Program is the only program that collects facility-level greenhouse gas data from major industrial sources across the United States.

The 2012 data show that in the two years since reporting began, emissions from power plants have decreased 10 percent. This is due to a switch from coal to natural gas for electricity generation and a slight decrease in electricity production. Fossil-fuel fired power plants remain the largest source of U.S. greenhouse gas emissions. With just under 1,600 facilities emitting over 2 billion metric tons of carbon dioxide in 2012, these plants account for roughly 40 percent of total U.S. carbon pollution.

The data are accessible through EPA’s online data publication tool, FLIGHT, which is available for both desktop and mobile devices. This year, with three years of data for most sources, FLIGHT has been updated with new features, including the ability to view trend graphs by sector and facility, and download charts and graphs for use in presentations and reports. The data are also published through EnviroFacts, which allows the public to download data for further analyses.

BP announced that it will appoint Richard Herbert as its new head of exploration. Herbert will succeed Mike Daly who has chosen to retire from BP at the end of 2013 after a career of 28 years with the company, eight leading BP’s exploration function.

Companies using a procedure called hydraulic fracturing to pull oil and natural gas from deep underground in Michigan would have to take extra steps to protect ground and surface waters under regulations outlined Tuesday.

The United States and Canada are the only major producers of commercially viable natural gas from shale formations in the world, even though about a dozen other countries have conducted exploratory test wells, according to a joint U.S. Energy Information Administration (EIA)/Advanced Resources International (ARI) study released in June. China is the only nation outside of North America that has registered commercially viable production of shale gas, although the volumes contribute less than 1% of the total natural gas production in that country. In comparison, shale gas as a share of total natural gas production in 2012 was 39% in the United States and 15% in Canada.

The Bakken and Eagle Ford shale formation increased U.S. crude production by almost 700,000 barrels a day over the past year, the EIA said. That accounted for 75 percent of the crude output growth across six regions the agency will track in the new report.

Five protesters, four of them locked to each other with steel pipes, have been arrested after refusing to leave the Irving Oil corporate building in Portsmouth, N.H., where police said they threw glitter and blew whistles.

The Muskingum Watershed Conservancy District approved a partial assignment of deep mineral rights under three leases at Clendening Reservoir in Harrison County to America Energy-Utica, the new company formed by Aubrey McClendon, the former CEO of Chesapeake Energy.

The transfer is further evidence that McClendon is actively pursuing Ohio's Utica shale.

On Thursday, October 17, it was reported by the Daily Mail that Oil Majors such as BP (BP) and Royal Dutch Shell (RDS.A) (RDS.B) may be interested in acquiring Chesapeake Energy (CHK). In the wake of the Daily Mails report, I not only wanted to review what was reported, but also highlight a number of the reasons why I still remain slightly bullish on shares over the next 12-18 months.

HOUSTON
,
Oct. 17, 2013
/PRNewswire/ --
Cabot Oil & Gas Corporation
(NYSE: COG) today announced that it has entered into two purchase and sale agreements to sell certain proved and unproved oil and gas properties located in the Mid-Continent and
West Texas
for aggregate proceeds of approximately
$188 million
. These transactions are expected to close in the fourth quarter of 2013, subject to customary closing conditions and adjustments.

DALLAS, October 18, 2013 – The Crosstex Energy companies today announced the declaration of the quarterly distribution for Crosstex Energy, L.P. (NASDAQ: XTEX) (the Partnership) and the quarterly dividend for Crosstex Energy, Inc. (NASDAQ: XTXI) (the Corporation) from the third quarter of 2013:

A Pennsylvania state agency has ordered that previously sealed drilling plans for Loyalsock State Forest be opened for public review.

The Department of Conservation and Natural Resources has released for public review the March 2012 drilling plans of Anadarko Petroleum, after a state agency ruled that the public has a right to review at least a portion of those plans.

From Atlas Resource Partners with wells in the Marcellus and Utica shales:

PHILADELPHIA--(BUSINESS WIRE)--Oct. 16, 2013--
Atlas Resource Partners, L.P.
(NYSE:
ARP
) (“ARP” or “the Company”) hereby provides an operational update on its activities, as well as an update to its oil & natural gas hedge positions and financial outlook for the remainder of 2013 and full year 2014. The Company also plans to release results for the third quarter 2013 on
Thursday, November 7, 2013
after market hours, and invites investors and other interested parties to listen to the live webcast of its quarterly conference call on
Friday, November 8, 2013
, at
9:00 am ET
.

A statement on Oct. 13 from Youngstown's Committee for the Community Bill of Rights:

Today, the Committee for the Community Bill of Rights has obtained public records revealing another reason for Youngstown residents to Vote YES for The Youngstown Community Bill of Rights. Youngstowners must vote YES to protect our drinking water, our air, our homes, and our health.

On Oct. 3, 2013, a public records request was sent to the Chief Engineer of the Mahoning Valley Sanitary District asking if Halcon, a fracking company from Texas, was trying to drill underneath Meander Reservoir. The MVSD sent this answer from one of the 2 law firms they have retained to PROTECT our drinking water supply: “In July of this year Halcon met with the District. Initially Halcon intended to construct a well pad on property adjacent to the District’s property. From this well pad Halcon intended to drill horizontal wells as part of a 640 acre drilling unit extending 7,000 feet vertically and then 7,000 feet horizontally to access the Utica-Pleasant shale formation below the District’s property including the reservoir.” –Thomas J. Wilson, Atty., Comstock, Springer & Wilson Co., L.P.A

The MVSD has also hired oil and gas leasing issues expert Karen Winters, Esq. and her firm Squires, Sanders, LLP from Columbus, Ohio to help protect the Meander Reservoir.

Members of the Committee for the Community Bill of Rights have attended MVSD Board meetings since January urging the MVSD board to protect Meander Reservoir. They warned that the experimental, dangerous, deregulated fracking process being used now in Ohio using hundreds of toxic and cancer-causing chemicals puts our drinking water at risk of contamination. These citizens revealed an Ohio Department of Natural Resources (ODNR) report showing the CNX Gas Co., LLC MAHN-7 Cadle well on Blott Rd. in the PROTECTED drinking water area of the Meander Reservoir suffered a 4 foot long casing split when it was drilled Oct. 13, 2012. Halliburton,the same company whose cementing failure caused the Deep Horizon Oil spill in the Gulf of Mexico was hired to cement the split. This accident and repair job was never reported to the MVSD or the public. A private citizen discovered the report in January of 2013, and citizens informed the MVSD board. Today it is revealed Halcon obtained the deep drilling rights under the Meander Reservoir in July of 2012, according to Atty.Wilson, but they have not yet applied for drilling permits from ODNR. Wilson further states “The MVSD owns and operates a public water system serving a population in excess of 200,000. The source of the water supply is the Meander Creek Reservoir. Members of the Board recognize their critical responsibility to maintain a clean, safe, source for this public water system. The Board will continue within the applicable law to protect this public water source.” The Committee for the Community Bill of Rights wants to thank the MVSD officials for hiring two law firms to make sure Halcon can never drill under the source of drinking water for Youngstown, Niles, Austintown, McDonald, and parts of Boardman, Ohio.

Our Call Execution issues at the well pad are the latest wrinkle driving deferred production growth. Our revised production outlook calls for "only" 282% production growth in 2014 to 48.2 mboe/d, down from our previous estimate of 69.1 mboe/d, and represents 189% y/y EBITDA growth with a manageable estimated CF outspend of ~$120 million. With the shortfall driven by operational missteps that should be addressed going forward, our $86 SOTP PT remains intact.

• Execution Issues at the Wellbore Drive Lower Production Growth Outlook. The company had drilling mud seep into up-hole formations on five different well pads where intermediate casing string was eliminated. Diagnosing and solving the problem has caused a delay of at least one month in getting the wells hooked to sales. As a result, the company no longer believes it will have 20-24 wells hooked to sales in the fourth quarter. Exit-rate production guidance was reduced ~10 mboe/d to 27-32 mboe/d.

• Revised Production Outlook. With fewer well hook-ups planned by year-end (we assume only 12 well hook-ups in 4Q), we are cutting production estimates. We assume six wells come on line per month in 2013 versus 7-8 before. On top of that, we are also hair-cutting aggregate production from the Utica Shale by 25% to account for unforeseen delays that we struggle to account for otherwise in our models. 4Q13E production declines to 21.5 mboe/d from 31 mboe/d, 2014E production declines to 48.2 mboe/d from 69.1 mboe/d, and 2015E production declines to 88 mboe/d from 101 mboe/d. We are also revising up our natural gas skew in 2014/2015, reflecting stronger returns in the wet gas window, leading the company to move rigs east in the Utica Shale. Assuming ethane rejection indefinitely, we now estimate natural gas will be 66% of 2014E production (up from 63%) and 71% of 2015E production (up from 64%).

• Cutting Estimates. In conjunction with lower production assumptions, we are cutting estimates. EBITDA declines for 4Q13/2014/2015 to $82/$667/$1,073 million from $116/$987/$1,374 million and EPS estimates decline to $0.16/$1.30/$1.34 from $0.22/$2.39/$2.98.

• SOTP Value Remains Intact - No Change to $86 PT. Our PT reflects full development mode value for the company's Utica Shale assets. We believe the latest deferral in growth is not material to the overall value of the resource.

Chesapeake Energy has included language in contracts that says it could deduct a portion of Pennsylvania's impact fee from some lease royalty payments, even though that's expressly forbidden under state law, landowners and attorneys said.

A press release from Canada's Carleton University and China-owned ENN Group:

Carleton University and ENN Group signed an agreement in Beijing on Oct. 16 2013 to establish the Clean Energy Research Institute at the Ottawa campus that will explore liquefied natural gas (LNG) technology and related clean energy technologies.

Our Call This morning's negative operational update casts further doubt on management's ability to communicate a coherent medium-term growth strategy. Based on this update, which includes actual 3Q production, we increase 3Q estimates. We have been unable to reach management to get clarity on specific drivers of reduced 2013 exit-rate guidance (down 10 mboe/d to ~30 mboe/d).

• Haircut to '13 Exit-Rate Production Will Force Reset on '14 Outlook, With Growth Again Being Pushed to the Right. Today's revised exit-rate production guidance (27-32 mboe/d) adds uncertainty on near-term growth. It compares to previous management commentary of 38-42 mboe/d, provided with 2Q earnings. We note the shortfall is very much a reflection on the prolific nature of wells drilled to date in the Utica Shale. With IP rates averaging 1+ mboe/d over 30-day periods, it doesn't take much in the way of infrastructure or drilling delays to defer ~10 mboe/d of production. Our Buy rating is predicated more on the quality of the rock in eastern Ohio than on near-term guidance, but we acknowledge repeated execution shortfalls will be a headwind until investors become comfortable with the 2014/2015 growth outlook.

• Positive 3Q Pre-Announcement. 3Q production averaged 13 mboe/d, above our estimate of 12.5 mboe/d and in-line with consensus. We note that production guidance was revised down to 12.25-12.75 mboe/d in mid-September, at which time the company maintained full-year production guidance, which now appears unsustainable.

• Adjusting 3Q13 Estimate at This Time, Pending Conversation with Management. Based on actual 3Q production, we increase 3Q13E EPS to $0.15 from $0.12 and 3Q13E EBITDA to $61 million from $55 million. Estimates for subsequent quarters remain unchanged at this time.

• Catalysts Still Abound, and Delays Are Not Attributable to Quality of Resource. We continue to await results from the company’s first dry gas well, the Irons 1-4H well, which was scheduled to begin flowing to sales in late October, although today’s delay could mean that timeline is no longer valid. We also anticipate getting longer-term production data that verifies the shallow decline rate for wells in the wet gas window.

• Other Items in Release. Gulfport added 9K net acres in the play and now has 144.5K net acres. The company also announced new hedges, and now has swaps on 2.5 mb/d of oil in 2014 (up from 2), swaps on 50 mmcf/d of natural gas in 2014 (up from 15) and swaps on 45 mmcf/d in 2015 (up from 10). Swaps on 5.1 mmcf/d of 2016 production were introduced, as were swaptions for 10 mmcf/d for 2015 and 3 mmcf/d in 2016.

A nearly complete 12,000-foot loop train track at the Ohio Commerce Center in Lordstown in Trumbull County is among the key components of what Halcon Resources Corp. says eventually may be a $70 million fuel depot, the Youngstown Vindicator reports.

Savage, a multinational, privately owned company, hopes to be a major player in the development of those facilities at the 480-acre Commerce Center on Tod Avenue north of Salt Springs Road, the paper says.

PITTSBURGH
,
Oct. 15, 2013
/PRNewswire/ --
CONSOL Energy Inc.
(NYSE: CNX) is providing an operations update for the quarter ended
September 30, 2013
. The company produced and sold more gas and coal during the quarter than expected. CONSOL also signed a definitive agreement for infrastructure build-out in the
Utica Shale
, in
Noble County, Ohio
.

(Pittsburgh) Intertek, a leading provider of quality and safety services to a wide range of industries around the world, has added significant, new, Gas Processors Association (GPA) gas testing capabilities to the Pittsburgh. Pennsylvania laboratory. The laboratory provides fast and reliable GPA natural gas analysis for clients working in the Marcellus and Utica Shale play regions.

The birth of OPEC 40 years ago actually led to a major increase in global oil production, right up to the still young shale energy boom, writes energy expert Daniel Yergin in The Wall Street Journal.

Yergin: "Although the OPEC embargo seemed to provide proof that the world was running short of oil resources, the move by Arab exporters did the opposite: It provided massive incentive to develop new oil fields outside of the Middle East—what became known as 'non-OPEC,' led by drilling in the North Sea and Alaska.

Cowen: "The shale boom is just getting started, most of all on a global level.... Our shale boom is only starting to affect the global economy. The question is who else will follow suit. Russia? Argentina? Poland? We will see, but I expect a lot more supply to come on line."

Our Call We believe the read-throughs from Antero's successful road show and strong rally on its first day of trading are positive for Consol. We expect asset monetization announcements from CNX shortly. Consol's shares should continue to find support, especially as potential upcoming catalysts highlight inherent value. Shares remain our top pick in mining space.

Antero IPO. Antero Resources (AR, $52, NR) appears to be a very close proxy for Consol, and therefore we believe the read-throughs from Antero's successful road show and 18+% rally on its first day of trading are positive for Consol. Antero has a concentrated portfolio in the Marcellus Shale (330K net acres in Marcellus's southwestern fairway) and the Utica Shale (100K net acres). Consol has 347K net acres in Marcellus and 83K net acres in Utica. My colleague and Sterne Agee E&P Analyst Tim Rezvan believes it is difficult to ascertain a precise EV, but it appears that the EV for Antero should be nearly $12.5B, growing toward $14B in 2014 from an announced FCF overspend. Based on current price and comparable metrics, we believe CNX's coal assets are trading at $7.0-7.5B based on normalized pricing and volumes, implying in current valuation $3.0-$3.5B for Consol's gas and other assets. Antero deserves a higher valuation vs. Consol's gas assets given Antero's long and more active record, but almost 4.0x valuation for Antero vs. CNX gas leads us to believes CNX's gas assets are undervalued.

Utica Activity - Tim has indicated that acreage prices have spiked in Ohio, apparently driven by aggressive leasing by Aubrey McClendon's private company American Energy Utica LLC (AEU) as commentary from multiple operators confirms that AEU has been bidding up to $17K/acre for wet gas acreage and up to $8K/acre for dry gas acreage. Greater activity in Utica bodes well for CNX's Utica acreage valuation, in our view.

Potential Monetization - Last quarter, management announced that its board is also evaluating corporate structure to unlock additional value for shareholders. We should see an asset sale announcement this quarter, as well as further information on potential restructurings. As an asset rich company, we believe management has many avenues to recapitalize its coal and related businesses.

Investment Summary - As its coal business begins harvesting and shale monetization continues to grow rapidly, Consol's shares should continue to find support, especially as potential upcoming catalysts highlight inherent value. We support our $60 target using asset valuations for its coal and gas businesses, which reflects a sum-of-the-parts analysis – 7.5 multiple to our 2015 coal EBITDA forecast and a combination of valuation multiples on various gas assets.

ATLANTA– UPS®(NYSE:UPS) announced today plans to invest approximately $50 million to build an additional nine liquefied natural gas (LNG) fueling stations, bringing the total number of stations to 13. Four were announced in April, and all should be operational by the end of 2014.

A new study in the peer-reviewed Journal of Occupational and Environmental Medicine (July 2013 issue) finds no increases in childhood cancer in areas where hydraulic fracturing or fracking has taken place, reports Jim Willis of the Marcellus Drilling News.

The report, entitled “Childhood Cancer Incidence in Pennsylvania Counties in Relation to Living in Counties With Hydraulic Fracturing Sites,' looks at the rates of cancer both before fracking begins, and then again after fracking has been going on.

From the Pittsburgh-based Marcellus Shale Coalition, a or-drilling group, last week:

Pittsburgh, Pa. – With eight recommended practices published to-date, today the Marcellus Shale Coalition (MSC) released its latest guidance document for Drilling and Completions – two of the most critical aspects of the shale development process. Developed in consultation with several of the MSC’s working committees, these Recommended Practices for Drilling and Completions are designed to provide guidance to operators.

Washinhgton state officials said last Wednesday they are revoking permits for two planned oil train terminals in southwest Washington after deciding the projects should face more environmental scrutiny.

A press release from International Research Networks on the second annual Balkans Oil and Gas 2013 Summit:

IRN held the well-attended 2nd Annual Balkans Oil & Gas 2013 Summit on 24th-25th September in the Hotel Grande Bretagne in Athens, with key executives of the oil and gas industry giving insights and revealing future plans of the Balkans countries.

With more than 100 companies attending the summit and an outstanding panel of speakers, IRN gathered their excellences Alen Leveric, Deputy Minister of Economy in Croatia, Vladan Dubljevic, Deputy Minister for Mining and Geological Researches at the Ministry of Economy in Montenegro and Konstantinos Mathioudakis, General Secretary of Energy and Climate Change at the Ministry of Environment, Energy & Climate Change in Greece along with the Chairman & CEO of Energean Oil and Gas, Mathios Rigas, the CEO of Bulgartransgaz, Kiril Temelkov, the President & CEO of Stream Oil & Gas, Dr. Sotirios Kapotas and many other exploration directors in Balkans such as Max Torres from Repsol.

Last April, a grass-roots Ohio group filed a petition that argued Ohio illegally tried to exempt oil and gas companies from complying with federal emergency planning and citizen reporting requirements under the Emergency Planning and Community Right-to-Know Act (EPCRA), says Joe Koncelik, a blogger with the Ohio Environmental Law Blog and a former Ohio EPA director.

In 2001, the Ohio General Assembly adopted Ohio Revised Code (R.C.) 3750.081, Compliance by Oil & Gas Facilities: Use of Electronic Database which provided an alternative to EPCRA's reporting requirements.

A press release received today from a Mahoning Counth grass-roots group:

Youngstown, Ohio, October 14, 2013 –Frackfree Mahoning Valley (FFM) calls for an immediate halt to plans that Ohio state regulators are reportedly implementing by January 1 to use open pits or impoundments for toxic fracking waste.

WASHINGTON, October 10, 2013 ─ API launched a new web-based map tracking liquefied natural gas (LNG) export projects, including those waiting for approval from the federal government. According to Erik Milito, director of upstream and industry operations, approval of the multi-billion dollar export terminals could create thousands of American jobs, strengthen the U.S. geopolitical position, reduce global emissions, and help the Obama administration to meet its promise to double American exports.

“America is leading the world in natural gas production, but to unlock the full economic benefits for U.S. workers, the Department of Energy must act quickly on the permits needed to sell our exports abroad,” said Milito. “Accelerating the approval process would send a strong signal that the administration is serious about doubling U.S. exports and help to generate the economic benefits the president is seeking.”

The online API LNG export map displays a summary of investments, exports, and jobs associated with each application to sell LNG to countries that do not have free trade agreements with the United States. Terminals are listed in the order that the DOE expects to review the projects, along with how long each has waited for approval. Also listed are the four U.S. export sites approved since 2011, as well as 63 competing sites planned or under construction in foreign nations.

“There is a global race to build this infrastructure and secure a competitive position in the international market,” said Milito. “These terminals would allow other nations to purchase a valuable American product, support U.S. exports, and help reduce global emissions.”

Currently, there are 21 pending applications, including sites in Texas, Louisiana, Georgia, Oregon, and Mississippi. The next site expected to be reviewed is on Quintana Island near Freeport, Texas, where the applicant is requesting added export capacity for a facility that will attract $3 billion in capital investments and create over 3,000 construction and engineering jobs.

Milito also noted that U.S. LNG exports could create tens of thousands of domestic jobs while having only minimal impacts on domestic U.S. natural gas prices, according to several studies, including a recent report by ICF International.

API is a national trade association that represents all segments of America’s technology-driven oil and natural gas industry. Its more than 550 members – including large integrated companies, exploration and production, refining, marketing, pipeline, and marine businesses, and service and supply firms – provide most of the nation’s energy. The industry also supports 9.8 million U.S. jobs and 8 percent of the U.S. economy, delivers $85 million a day in revenue to our government, and, since 2000, has invested over $2 trillion in U.S. capital projects to advance all forms of energy, including alternatives.

NEW YORK--(BUSINESS WIRE)--Oct. 9, 2013--
Hess Corporation
announced today it has entered into an agreement with
Buckeye Partners, L.P.
to sell its
U.S. East Coast
and
St. Lucia
terminal network for a total consideration of
$850 million
in cash. As a result of this sale, Hess is expected separately to release approximately
$900 million
of working capital, with another
$100 million
continuing to be retained by the retail business as part of its ongoing operations.

WASHINGTON, October 11, 2013 – Oil well drilling trends continue to rise in the third quarter of 2013 with total oil well completions up 18 percent from 2012 third quarter figures, according to API's 2013 Quarterly Well Completion Report: Third Quarter.

“The oil and natural gas industry expanded oil drilling in the third quarter of 2013 thanks in large part to access on private and state lands,” said Hazem Arafa, director of API's statistics department. “Additional access to our own vast energy resources and streamlined federal permitting would allow for more opportunities to produce U.S. energy while creating more American jobs and generating more revenue for our government."

Natural gas well completions in the third quarter of 2013 continued to decline with 30 percent fewer wells from year-ago levels, according to the report. Total number of oil and natural gas wells completed in the third quarter of 2013 increased by 6 percent from year-ago levels, while total footage drilled increased 9 percent.

API is a national trade association that represents all segments of America’s technology-driven oil and natural gas industry. Its more than 550 members – including large integrated companies, exploration and production, refining, marketing, pipeline, and marine businesses, and service and supply firms – provide most of the nation’s energy. The industry also supports 9.8 million U.S. jobs and 8 percent of the U.S. economy, delivers $85 million a day in revenue to our government, and, since 2000, has invested over $2 trillion in U.S. capital projects to advance all forms of energy, including alternatives.

What was initially said to be anti-fracking legislation in California was amended multiple times and actually was pro-fracking when state officials signed the legislation, reports the MasterResource energy blog.

Some of the most prominent fracking opponents are changing their tune and appear to accept that fracking and its related technology are inevitable, Loren Steffy writes at Forbes.

Steffy: "After years of virulent anti-fracking efforts, some residents of northwestern Pennsylvania may be changing their tune. The Associated Press reported recently that critics of hydraulic fracturing in the area around Dimock, the center for many claims about contaminated water and other disastrous environmental fallout, have begun working with the energy industry. Some landowners even have signed natural gas leases and are now touting the environmental benefits of the fuel, which burns cleaner than coal or oil.

I wanted to make sure you were aware of some new resources on fracking for natural gas and oil from the Union of Concerned Scientists. We don't take a pro or con position on fracking or natural gas, but instead work to illuminate the fracking debate with objective information about the benefits and risks of new technology.

A press release from the Vorys, Sater, Seymour and Pease law firm today:

Vorys, Sater, Seymour and Pease LLP announced today that it will strengthen its oil and gas practice by expanding into Pittsburgh and welcoming a team of experienced oil and gas attorneys entrenched in the region’s energy industry. With one of the Midwest’s largest and most experienced oil and gas law practices, Vorys is improving the services it offers clients that are actively pursuing opportunities in both the Utica and Marcellus Shale plays.

From Williams of Tulsa, Okla., and Boardwalk Pipeline Partners LP of Houston, two companies involved in the proposed 1,153-mile Bluegrass Pipeline from Ohio to the Gulf Coast and a new LPG export facility in Louisiana.

From the PR News Wire on Tuesday, Oct. 1, on plans for a LNG export terminal in Louisiana that would handle Utica and Marcellus shales via the Bluegrass Pipeline:

Williams (NYSE: WMB) and Boardwalk Pipeline Partners, LP (NYSE: BWP) today announced they have executed joint venture agreements to continue developing a liquefied petroleum gas (LPG) export facility in the Lake Charles, La. area. The proposed Moss Lake LPG Terminal would be located on the Calcasieu River and serve tanker ships transporting LPG to Asian, Latin American and European markets.

From analysts Tim Rezvan and Truman Hobbs of New York-based Sterne, Agee on Gulfport Energy, a ket player in Ohio's Utica shale:

Our Call We update our thoughts on the prospectivity of the play's dry gas window, based on recent dialogue with several operators that echo offset operator results and a robust leasing market in eastern Ohio. We anticipate dry gas results by year-end from Gulfport, which could frame the sub-basin's resource potential. Our updated $86 PT reflects an $8,000/acre value for previously risked dry gas acreage and an increase in the value of the delineated wet gas/condensate-rich window.

• The Right Question to Ask: Could Belmont/Monroe County Dry Gas Wells Rival Susquehanna County, PA? We believe the productivity of the dry gas window on the eastern edge of the play remains the single biggest variable that could drive upside for GPOR shares, and until today we assigned it little value in our SOTP PT. The bears are questioning the lack of oil/condensate in Ohio and execution uncertainty, but we believe understanding the quality of the Point Pleasant formation across the entire play is the key question, not execution toward near-term guidance bogies. Recent commentary from several operators on the overpressured dry gas window has been bullish. Those channel checks, coupled with a series of strong results by soon-to-be public operator Antero Resources, lead us to believe returns in the dry gas window could rival/exceed those of the best domestic gas shale plays. In August, Antero announced 24-hour peak IP rates from five wells in western Monroe County, adjacent to Gulfport's southeastern acreage. The wells averaged 7.6 mboe/d (26 mmcfe/d of gas, 3.1 mboe/d NGLs, 137 boe/d condensate).

• New 52-Week Highs + Rising Short Interest = Potential for Sentiment to Improve. GPOR shares have been grinding higher since 2Q earnings, with positive sentiment from continued strong well results proving more impactful than a recent cut to 3Q production guidance. As seen in the table on page 2, short interest has increased this year in conjunction with the stock rally, and we believe this uncertainty in the marketplace suggests divergent thoughts on the company's ability to execute and a potential for sentiment to improve.

Increase PT to $86 from $80 - Despite the Rally, Gulfport Remains the Most Compelling Value in Our Coverage Universe. Our previous $80 PT was based on 70% of Gulfport's 136K net acre leasehold being prospective. We assigned no value to the remaining acreage, which is mostly in the dry gas window. We now believe this is overly punitive to our SOTP value for GPOR shares. We recognize that an $8K/acre value is simple "acreage math," but it is an important first step in acknowledging the potential of the play.

Here is a look at what's happening to Chesapeake Energy Corp. in Ohio's developing Utcia shale from Trefis of the Seeking Alpha website:

The Utica Shale is an emerging unconventional oil and natural gas play that largely lies under eastern Ohio, as well as parts of Pennsylvania, West Virginia and New York. Chesapeake Energy (CHK) was one of the first companies to commence operations in the Utica shale and is currently the largest and most active leaseholder in the region. While the play is still in its early stages and is small compared to shales such as the Marcellus and Bakken, it looks promising since it is rich in wet gas as well as oil and also happens to be the only land-based oil play east of the Mississippi river giving it proximity to refineries on the East Coast [Motley Fool]. In this note, we take a look at Chesapeake’s operations in the Utica shale play and where they could be headed.

Youngstown, OH — As many Ohioans consider community bans on drilling and state officials demand disclosure of fracking chemicals, a new report charges that Ohio drilling operations are producing 30 million gallons of wastewater each year – enough to flood the Ohio statehouse under 90 feet of toxic waste. The Environment Ohio Research & Policy Center report "Fracking by the Numbers" is the first of its kind to measure the footprint of fracking in Ohio to date.

A statement from the Muskingum Watershed Conservancy District after the district was sued for its natural gas leases and water sales to drillers. The suit was filed in Franklin County Common Pleas Court. Here is the statement:

“While the MWCD has not been served yet with a copy of the lawsuit and cannot comment on its specific contents, the conservancy district stands firmly behind its record of environmental stewardship when it comes to oil and gas leasing. The MWCD has an 80-year history of leasing its properties for oil and gas extraction, has developed a lease that is considered to be a model for the safeguards and environmental protections of public property that are included in it, and at the same time has ensured that public access to its properties for outdoor recreation are not adversely affected.

Lea Harper and her husband Steve, property owners near Seneca Lake in Guernsey County, filed suit in Franklin County Common Pleas Court yesterday after two years of effort and organizing to stop the Muskingum Watershed Conservancy District (MWCD) from leasing public land and selling public water for horizontal, hydraulic, high-volume slick water fracturing (fracking).

Enbridge Inc. (ENB), Canada’s largest oil transporter, is talking with natural gas producers in British Columbia about building a pipeline to carry supplies to the coast where they will be exported to Asia.

A federal judge has certified a handful of class-action lawsuits accusing two energy companies of cheating southwest Virginia residents out of tens of millions of dollars in royalty payments for natural gas drilled on their land.

COLUMBUS – State Representative Robert F. Hagan (D-Youngstown) today applauded the recent state directive requiring oil and gas companies to disclose a list of what toxic chemicals they use to local governments, first responders and residents. The disclosure requirements, while federally mandated since 1986, were subverted by the oil and gas industry through a corporate carve-out in state law passed in 2001. Rep. Hagan has attempted to rectify this issue with House Bill 596 last General Assembly and again this General Assembly with House Bill 42.

The gap between opponents and supporters of hydraulic fracturing has grown to an all-time high in New York, according to a new poll.

The Siena College survey released Monday shows 45 percent of New York voters do not support allowing high-volume fracking in the state, compared to 37 percent who do. Eighteen percent had no opinion or not enough information to formulate one.

Pennsylvania's oil and gas drilling regulations are well-managed overall, but several key areas could be improved, according to a review released Monday by a group financed by the federal government and industry organizations.

North Carolina’s fracking commissioners said last Friday that fracking is so inherently safe that they will recommend relaxing the standard by which operators will have to test local well water before they begin drilling for natural gas.

The state’s current testing standard, the strictest in the nation, is designed to give residents a legal remedy against the threat of chemical contamination of wells and aquifers from natural gas drilling.